【SMM Steel】Russia moves toward excise tax on imported steel products

Published: Apr 17, 2026 15:28

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【SMM Steel】Russia's Finance Ministry submitted a draft law introducing an excise tax on steel imports. The initiative follows industry requests. Implementation depends on approval pace, expected in 2026 or Jan 1, 2027. The proposed mechanism mirrors the existing excise tax on domestic steel producers introduced in Jan 2022 (2.7% of monthly slab prices). The move is part of broader support for the ferrous metallurgy sector. Other support measures included possibly delaying iron ore and liquid steel taxes until end-2026, but the Finance and Economic Development ministries opposed these delays.

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